The crypto market on October 6, according to cryptonew: Bitcoin price has stabilized above the pivot level of $ 50,000. As a result, BTC expanded its gains and broke the USD 51,200 resistance. At 04:37 UTC, BTC is consolidating gains with a major resistance near $ 52,000.
Also, most of the major altcoins trade in the positive zone. ETH rose above the USD 3,500 resistance before correcting lower. XRP is still trading below $ 1.08 while ADA is stable above $ 2.20 but is encountering resistance near $ 2.32.
Cryptocurrency Market October 6th: Bitcoin Price
In the past few sessions, the Bitcoin price has steadily risen to over $ 50,000. BTC has broken several barriers near $ 50,500 and $ 51,200. It even traded near $ 52,000 before correcting lower. Immediate support on the downside is near the $ 51,200 mark. The first major support is at $ 50,500, below which a pullback to $ 50,000 is possible.
On the downside, the price is encountering resistance near $ 51,800. The first major resistance is near the $ 52,000 mark, above which the price can rise towards $ 53,200.
Cryptocurrency Market October 6th: Ethereum Price
Ethereum price also accelerated above the USD 3,400 resistance. ETH climbed above the USD 3,440 resistance and even surged above USD 3,500. The price tested $ 3,550 and is currently consolidating gains. On the flip side, initial resistance is near the $ 3,550 level. The next major resistance is now near the $ 3,620 level, above which the price can test $ 3,700.
If there is a downward correction, the price can test the $ 3,450 and $ 3,440 support levels. The next big support is at $ 3,380.
Cryptocurrency Market October 6th: ADA, LTC, DOGE and XRP prices
Cardano (ADA) is consolidating above the $ 2.20 level. Immediate resistance is near the $ 2.25 level. The main hurdle remains near the $ 2.32 mark. A closing price above $ 2.32 could open the door for a steady rise. The next major resistance is near the $ 2.50 mark.
Litecoin (LTC) expands profits above $ 172. However, the price is still struggling to break the critical resistance of $ 175. If there is a significant break above $ 175, a rally to $ 188 is possible. On the downside, the $ 165 level is a good support.
Dogecoin (DOGE) is rising to trade above $ 0.250. The bulls could soon be trying to make a significant break above the $ 0.265 level. The next major resistance is near the $ 0.275 level.
XRP price made another attempt to break the $ 1.08 resistance but failed. It is currently consolidating near $ 1.06 and it looks like the bulls may try again for a clear break above $ 1.08. Otherwise, the price could slide towards the USD 1.02 support level.
Cryptocurrency Market October 6th: Another Altcoin Market
Many altcoins are up more than 5%, including SHIB, SC, THETA, XEM, MINA, ENJ, XDC, CHZ, BCH, NEO, KLAY, HOT and BTT. Of these, SBIH started a new rally and rebounded more than 65% in one day to hit $ 0.00002162.
Overall, the Bitcoin price is rising above the $ 51,000 mark. However, the $ 52,000 level could be a short-term resistance.
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